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10 Yrs X-Ray 
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Analyst Note 
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Mangalam Cement Ltd (MANGLMCEM)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 502157 NSE: MANGLMCEM Cement & Construction Materials | Small Cap | Mangalam Cement Share Price
₹895.05 -6.25 (-0.69%)
As on 14-Aug'26 16:59
Mangalam Cement Ltd (MANGLMCEM)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 502157 NSE: MANGLMCEM Cement & Construction Materials | Small Cap | Mangalam Cement Share Price
₹895.05 -6.25 (-0.69%)
As on 14-Aug'26 16:59
Key Metrics
Valuation Multiples
Market Cap
₹2,461 Cr.
Current Price
₹895.1
52-Week Low / High
₹680 / 1,024
TTM EPS
₹41.7
TTM Sales
₹1,762 Cr.
Book Value per Share
₹362
P/E Ratio
21.45
Lower than its 5-year historical median
Industry PE
38.3
Price to Book (P/B)
2.47
Higher than its 5-year historical median
Price to Sales (P/S)
1.40
Higher than its 5-year historical median
EV/EBITDA
13.26
Higher than its 5-year historical median
Dividend Yield
0.17%
Profitability Efficiency
Return on Equity (ROE)
14.10%
Outperforms industry median
Return on Capital Employed (ROCE)
9.55%
Outperforms industry median
Return on Assets (ROA)
5.62%
Operating Profit Margin
12.8%
Net Profit Margin
7.33%
Gross Profit Margin
10.3%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
4.61%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
37.76%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
186.17%
Asset Quality
Promoter Holding
40.00%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹968 Cr.
Equity
₹27.5 Cr.
Face Value
₹10
All Time Low / High
₹3.10 / 1095.65
Check Before You Invest
Quality
Somewhat GoodValuation
Somewhat OvervaluedCheck Valuation charts
Price Trend
Semi Strong
Is Mangalam Cement Ltd a good quality company?
Mangalam Cement Ltd is a average quality company, based on a somewhat consistent multi-year financial track record.
This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.
We have analysed the performance of the company on the following:
-
How has it performed on generating Profits?
By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.
-
How efficiently has it utilized Capital?
By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.
-
How is it managing its Debt?
By checking its Debt to Equity and Cash Flow from Operations.
How does Mangalam Cement Ltd performance compare with that of its Peers?
Revenue growth of Mangalam Cement Ltd vs industry peers?
Mangalam Cement Ltd revenue CAGR is 6.15%, compared to the industry median CAGR of 6.15%, indicating stable growth and maintaining its market share.
Promoter shareholding and pledge status of Mangalam Cement Ltd?
Promoters hold 40.00% of the Mangalam Cement Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Stock return of Mangalam Cement Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 10.1% based on the current price.
10 Year X-Ray :
Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Mangalam Cement Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good
Value Creation ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 10.9% | 7.4% | 3.7% | 16.6% | 16.9% | 13.8% | 6.9% | 12% | 9.7% | 9.6% | - |
| Value Creation Index ⓘ | -0.2 | -0.5 | -0.7 | 0.2 | 0.2 | 0.0 | -0.5 | -0.1 | -0.3 | -0.3 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 905 | 1,080 | 1,200 | 1,228 | 1,305 | 1,566 | 1,802 | 1,725 | 1,681 | 1,758 | 1,762 |
| Sales YoY Gr. | - | 19.3% | 11.1% | 2.4% | 6.2% | 20% | 15% | -4.2% | -2.6% | 4.6% | - |
| Adj EPS ⓘ | 11.5 | 2.7 | -4.9 | 27.7 | 34.7 | 28.2 | 10.6 | 20.5 | 16.5 | 53.1 | 41.7 |
| YoY Gr. | - | -76.1% | -278.1% | NA | 25.2% | -18.8% | -62.4% | 93.4% | -19.3% | 221.3% | - |
| BVPS (₹) ⓘ | 189.6 | 192.9 | 188.6 | 215.8 | 249.9 | 269.9 | 275 | 295.2 | 309.8 | 355.4 | 362 |
| Adj Net Profit ⓘ | 30.6 | 7.3 | -13 | 73.9 | 92.6 | 77.4 | 29.1 | 56.3 | 45.5 | 146 | 115 |
| Cash Flow from Ops. ⓘ | 163 | 85.9 | 84.4 | 216 | 234 | 189 | 139 | 182 | 188 | 94 | - |
| Debt/CF from Ops. ⓘ | 2.4 | 4.3 | 6.1 | 2.7 | 2.7 | 3.3 | 4.4 | 3.3 | 3.3 | 9.3 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 7.7% | 6.2% | -0.8% | 4.6% | ||||
| Adj EPS ⓘ | 18.6% | 8.9% | 71.2% | 221.3% | ||||
| BVPSⓘ | 7.2% | 7.3% | 8.9% | 14.7% | ||||
| Share Price | 9.5% | 12.6% | 38.5% | 24.8% | ||||
Key Financial Parameters ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 6.3 | 1.4 | -2.6 | 13.7 | 14.9 | 11 | 3.9 | 7.2 | 5.5 | 16 | 11.6 |
| Op. Profit Mgn % ⓘ | 13 | 7.6 | 4.8 | 16.2 | 18.8 | 14 | 8.4 | 11.7 | 9.7 | 12.8 | 11.1 |
| Net Profit Mgn % ⓘ | 3.4 | 0.7 | -1.1 | 6 | 7.1 | 4.9 | 1.6 | 3.3 | 2.7 | 8.3 | 6.5 |
| Debt to Equity ⓘ | 0.8 | 0.7 | 1 | 1 | 0.9 | 0.8 | 0.8 | 0.7 | 0.7 | 0.9 | - |
| Working Cap Days ⓘ | 111 | 102 | 122 | 146 | 145 | 116 | 108 | 120 | 134 | 147 | 78 |
| Cash Conv. Cycle ⓘ | -7 | -4 | -6 | -13 | -2 | 4 | 4 | 4 | 7 | 10 | -24 |
Valuation of Mangalam Cement - Standalone
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
* Pledged shares as % of Promoter's holding (%)
Financials
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 905 | 1,080 | 1,200 | 1,228 | 1,305 | 1,566 | 1,802 | 1,725 | 1,681 | 1,758 |
| Operating Expenses ⓘ + | 787 | 997 | 1,143 | 1,029 | 1,060 | 1,348 | 1,654 | 1,523 | 1,524 | 1,542 |
| Operating Profit ⓘ | 118 | 82 | 57 | 199 | 245 | 218 | 148 | 202 | 157 | 217 |
| Operating Profit Margin (%) | 13.0% | 7.6% | 4.8% | 16.2% | 18.8% | 13.9% | 8.2% | 11.7% | 9.4% | 12.3% |
| Other Income ⓘ + | 21 | 28 | 24 | 30 | 25 | 27 | 35 | 38 | 61 | 44 |
| Interest ⓘ | 47 | 47 | 51 | 63 | 69 | 64 | 66 | 68 | 69 | 64 |
| Depreciation ⓘ | 40 | 44 | 46 | 49 | 63 | 62 | 69 | 74 | 79 | 81 |
| Profit Before Tax ⓘ | 50 | 19 | -16 | 117 | 138 | 119 | 28 | 99 | 70 | 94 |
| Tax ⓘ | 14 | 8 | -6 | 41 | 44 | 41 | 11 | 39 | 25 | -35 |
| Profit After Tax | 37 | 11 | -10 | 76 | 93 | 78 | 17 | 60 | 45 | 129 |
| PAT Margin (%) | 4.1% | 1.1% | -0.8% | 6.2% | 7.2% | 5.0% | 1.0% | 3.5% | 2.7% | 7.3% |
| Adjusted EPS (₹) | 13.7 | 4.3 | -3.7 | 28.4 | 35.0 | 28.3 | 6.2 | 21.7 | 16.4 | 46.9 |
| Dividend Payout Ratio (%) | 5.50% | 11.70% | -13.70% | 3.50% | 4.30% | 5.30% | 24.10% | 6.90% | 9.20% | 3.20% |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 506 | 515 | 503 | 576 | 667 | 742 | 756 | 812 | 852 | 977 | |
| Debt + | 299 | 280 | 406 | 493 | 546 | 537 | 530 | 515 | 546 | 791 | |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Trade Payables | 126 | 144 | 167 | 180 | 194 | 177 | 249 | 235 | 245 | 202 | |
| Others Liabilities ⓘ | 282 | 281 | 341 | 344 | 451 | 472 | 454 | 506 | 524 | 455 | |
| Total Liabilities ⓘ | 1,213 | 1,220 | 1,417 | 1,593 | 1,858 | 1,928 | 1,990 | 2,068 | 2,166 | 2,425 | |
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 814 | 831 | 821 | 915 | 980 | 1,141 | 1,170 | 1,165 | 1,185 | 1,308 | |
| CWIP ⓘ | 49 | 5 | 73 | 21 | 112 | 10 | 17 | 43 | 5 | 54 | |
| Investments ⓘ | 28 | 36 | 33 | 65 | 71 | 104 | 78 | 84 | 91 | 76 | |
| Inventories | 102 | 112 | 117 | 164 | 224 | 203 | 257 | 308 | 275 | 319 | |
| Trade Receivables | 34 | 36 | 35 | 27 | 39 | 37 | 37 | 34 | 40 | 37 | |
| Cash Equivalents | 25 | 22 | 14 | 84 | 166 | 153 | 143 | 155 | 167 | 162 | |
| Others Assets ⓘ | 162 | 177 | 325 | 317 | 265 | 279 | 289 | 279 | 402 | 469 | |
| Total Assets ⓘ | 1,213 | 1,220 | 1,417 | 1,593 | 1,858 | 1,928 | 1,990 | 2,068 | 2,166 | 2,425 | |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ + | 163 | 86 | 84 | 216 | 234 | 189 | 139 | 182 | 188 | 94 |
| Cash Flow From Investing Activity ⓘ + | -91 | -17 | -176 | -156 | -172 | -134 | -64 | -112 | -132 | -297 |
| Cash Flow From Financing Activity ⓘ + | -77 | -67 | 83 | 3 | -41 | -73 | -89 | -86 | -63 | 183 |
| Net Cash Flow ⓘ | -5 | 2 | -9 | 63 | 20 | -18 | -14 | -15 | -7 | -20 |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 7.48 | 2.23 | -1.91 | 14.06 | 15.04 | 11.03 | 2.29 | 7.62 | 5.42 | 14.1 |
| ROCE (%) | 10.9 | 7.43 | 3.65 | 16.55 | 16.86 | 13.8 | 6.87 | 12 | 9.69 | 9.55 |
| Asset Turnover Ratio | 0.87 | 0.92 | 0.91 | 0.82 | 0.76 | 0.87 | 0.95 | 0.9 | 0.86 | 0.84 |
| PAT to CFO Conversion(x) | 4.41 | 7.82 | N/A | 2.84 | 2.52 | 2.42 | 8.18 | 3.03 | 4.18 | 0.73 |
| Working Capital Days | ||||||||||
| Receivable Days | 12.10 | 11.60 | 10.90 | 9.20 | 9.20 | 8.40 | 7.20 | 7.10 | 7.40 | 7.30 |
| Inventory Days | 38 | 34.80 | 34.80 | 41.70 | 54.30 | 47.40 | 45 | 56.10 | 58.20 | 56.50 |
| Payable Days | 252.70 | 253.40 | 265.90 | 445.10 | 305.20 | 246.30 | 265.70 | 387.70 | 284.20 | 299.30 |
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Mangalam Cement Ltd FAQs
The current trading price of Mangalam Cement on 14-Aug-2026 16:59 is ₹895.0.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 13-Aug-2026 the market cap of Mangalam Cement stood at ₹2,461.2 Cr
The latest P/E ratio of Mangalam Cement as of 13-Aug-2026 is 21.45.
The latest P/B ratio of Mangalam Cement as of 13-Aug-2026 is 2.47.
The 52-week high of Mangalam Cement is ₹1,023.9 and the 52-week low is ₹679.8.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Mangalam Cement is ₹1,762 ( Cr.) .
Past 10 year's financial track record analysis by Moneyworks4me indicates that Mangalam Cement Ltd is a average quality company.
The key valuation ratios of Mangalam Cement Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Mangalam Cement Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.
About Mangalam Cement Ltd
Mangalam Cement Limited was promoted in the year 1978 by the famed house of Shri B KBirla, the most eminent and illustrious industrialist of the country.
It is a professionally managed and well established cement manufacturing company enjoying the confidence of consumers because of its superior quality product and excellent customer service.
The company has recently commissioned its state-of-the-art new cement plant with German technology for producing 7 lakh tonnes per annum at its existing site at Morak, Distt. Kota in Rajasthan under the name of Neer Shree Cement.
In 1996, a major power failure led to the stoppage of production in the Mangalam Cement kiln for the entire month of December and the company decided to set up a pre-calcinator that year. The company was reduced to the status of a sick company in 2000 and its net worth declined, but in 2004 Mangalam Cement was facilitated by the one-time settlement struck between Mangalam Cement and its financiers and it was relieved of a sum of Rs.119 crore.
In 1992, the B.K. Birla Group considered plans to set up a new manufacturing unit after Mangalam Cement and decided to name it as Neer Shree Cement, and this plant was supposed to incorporate all the latest technologies available in Germany. The project required a capital investment of Rs153 crore and the plant ultimately began its production in the year 1994 and was recognized with ISO-9002 Certification in 1996-97.
As an integral part of environment protection drive, it employs latest pollution control techniques to minimize pollution and make the environment eco-friendly. It has a well-designed environmental policy to achieve the objective of environmental commitment by management.
In 2010 Mangalam Cement okayed merger of sister firm - Mangalam Timber Products with itself.
Product range of the company includes:
- Birla Uttam Cement- 43 Grade
- Birla Uttam Cement- 53 Grade
- Birla Uttam Cement- Portland pozzolana cement (PPC)
Awards/ Achievements
- The products produced by the company are as per the BIS Specification.
- Implementation of ISO 14001 is currently underway at its plants.
- Awards Won during Mines Environment and Mineral Conservation Week 2005-06 include third position for Over all Performance and Air Pollution Control, second position in Reclamation, Rehabilitation & Restoration of Land.
- Awards Won during the Mines Safety Week 2005 include first prize for Over all Performance, Heavy Earth Moving Machinery and maintenance, Electrical Installation and Mine Lighting, Opencast Working Places and Supervision and second prize for Welfare Amenities and Protective Equipments, Publicity Propaganda and Housing Keeping.
- Awards Won during Mines Environment and Mineral Conservation Week 2004-05, Ajmer Region involves second prize for overall performance and first prize for Reclamation, Rehabilitation & Restoration of Land, Water Pollution Control.
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